Master this deck with 30 terms through effective study methods.
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Includes land and improvements, but not removable items.
Ownership includes possession, control, enjoyment, exclusion, and disposal.
Emphasizes individual rights and private ownership.
State controls ownership and allocates land based on societal needs.
It is a tangible asset with physical presence.
The state owns all property, abolishing private ownership.
Improvements on the land that enhance its value.
They impose constraints on ownership and use.
Approximately $11.1 trillion.
Easements are intangible rights that can exist independently.
To create stable indoor environments for various activities.
Shelter, security, and business operations.
It modifies outdoor climate conditions for comfort.
Heterogeneous, immobile, and localized products.
Land is immovable, affecting market dynamics.
Residential focuses on living spaces; commercial on business use.
It includes various sectors like residential, commercial, and industrial.
Due to large capital requirements and regulatory controls.
It defines land ownership rights granted by the Crown.
Freehold is perpetual ownership; leasehold is temporary.
Rights of indigenous people to land based on traditional laws.
To assess the value of real estate for various purposes.
Converts future income into a present value using a cap rate.
Initiation, evaluation, acquisition, design, and implementation.
They influence property demand, pricing, and investment activity.
Estimates land value based on projected development costs and profits.
Market demand, property condition, and external economic conditions.
Gross rent includes outgoings; net rent excludes them.
They affect financing costs and property investment returns.
Planning delays, construction costs, and market fluctuations.